Overview
This unit is an introduction to professional property valuation. The unit examines property markets, market value, factors influencing market value, the nature and role of various stakeholders and the valuation process applied to freehold property interests. Practical aspects of property valuation are introduced including data collection, valuation report writing, the practical implications of professional ethics and codes of professional practice in property industry with specific focus on simple residential property.
Details
Pre-requisites or Co-requisites
There are no requisites for this unit.
Important note: Students enrolled in a subsequent unit who failed their pre-requisite unit, should drop the subsequent unit before the census date or within 10 working days of Fail grade notification. Students who do not drop the unit in this timeframe cannot later drop the unit without academic and financial liability. See details in the Assessment Policy and Procedure (Higher Education Coursework).
Offerings For Term 1 - 2025
Attendance Requirements
All on-campus students are expected to attend scheduled classes - in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).
Recommended Student Time Commitment
Each 6-credit Undergraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.
Class Timetable
Assessment Overview
Assessment Grading
This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of 'pass' in order to pass the unit. If any 'pass/fail' tasks are shown in the table above they must also be completed successfully ('pass' grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the 'assessment task' section (note that in some instances, the minimum mark for a task may be greater than 50%). Consult the University's Grades and Results Policy for more details of interim results and final grades.
All University policies are available on the CQUniversity Policy site.
You may wish to view these policies:
- Grades and Results Policy
- Assessment Policy and Procedure (Higher Education Coursework)
- Review of Grade Procedure
- Student Academic Integrity Policy and Procedure
- Monitoring Academic Progress (MAP) Policy and Procedure - Domestic Students
- Monitoring Academic Progress (MAP) Policy and Procedure - International Students
- Student Refund and Credit Balance Policy and Procedure
- Student Feedback - Compliments and Complaints Policy and Procedure
- Information and Communications Technology Acceptable Use Policy and Procedure
This list is not an exhaustive list of all University policies. The full list of University policies are available on the CQUniversity Policy site.
Feedback, Recommendations and Responses
Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.
Feedback from SUTE 2024
'The textbook is old and now out of print.'
The foundation text is a seminal work by an author that is not longer around. That said, it is time to review the text.
Feedback from SUTE 2024
'[UC] was an excellent mentor and very knowledgeable in the Property market. He answered all our questions during the zooms no matter how off track we were. He has a warming vibe where nothing is a problem, and he replies to emails promptly. Overall, my favourite subject so far :) '
Continue to focus on the market and retain the structure of the weekly classes.
Feedback from SUTE 2024
'Fantastic structure from week 1. [UC] was clear with exactly how each week contributed to the assignment task and then the exam. He provided reassurance and guidance around what to focus on and what was considered further study.'
Continue with the weekly approach to scaffold the assessment.
- Describe and evaluate the theory and principles of property valuation and property market economics.
- Communicate and interact productively with various stakeholders in the property industry using various media channels.
- Apply and review ethical arguments and cultural implications related to property economics and valuation processes.
- Conduct a valuation of less complex property types by selecting and applying appropriate methods and preparing a professional property valuation report.
This unit fulfils part of the property valuation content within the "Valuation" field of the Australian Property Institute's accreditation guidelines. After successful completion of this unit students will be able to conduct valuations of residential and other less complex real property types at a professional standard.
Alignment of Assessment Tasks to Learning Outcomes
| Assessment Tasks | Learning Outcomes | |||
|---|---|---|---|---|
| 1 | 2 | 3 | 4 | |
| 1 - Written Assessment - 50% | ||||
| 2 - Take Home Exam - 50% | ||||
Alignment of Graduate Attributes to Learning Outcomes
| Graduate Attributes | Learning Outcomes | |||
|---|---|---|---|---|
| 1 | 2 | 3 | 4 | |
| 1 - Communication | ||||
| 2 - Problem Solving | ||||
| 3 - Critical Thinking | ||||
| 4 - Information Literacy | ||||
| 5 - Team Work | ||||
| 6 - Information Technology Competence | ||||
| 7 - Cross Cultural Competence | ||||
| 8 - Ethical practice | ||||
| 9 - Social Innovation | ||||
| 10 - Aboriginal and Torres Strait Islander Cultures | ||||
Textbooks
Property Valuation and Analysis
Edition: 2nd (2006)
Authors: Whipple
Law Book Co of Australasia
ISBN: 9780455223940
This text is a supplementary. Students have found this to be a useful read as part of a journey to find the origins of salient valuation concepts. That said, it is not required reading and an electronic version of the text, along with other readings, are available through the reading list in Moodle.
Binding: Paperback
This text is a supplementary. Students have found this to be a useful read as part of a journey to find the origins of salient valuation concepts. That said, it is not required reading and an electronic version of the text, along with other readings, are available through the reading list in Moodle.
Additional Textbook Information
This text is a supplementary. Students have found this to be a useful read as part of a journey to find the origins of salient valuation concepts. That said, it is not required reading and an electronic version of the text, along with other readings, are available through the reading list in Moodle.
IT Resources
- CQUniversity Student Email
- Internet
- Unit Website (Moodle)
- Microsoft Office (Word, Excel, PowerPoint)
- Zoom access: microphone and webcam required
All submissions for this unit must use the referencing style: American Psychological Association 7th Edition (APA 7th edition)
For further information, see the Assessment Tasks.
s.boyd@cqu.edu.au
Module/Topic
Real estate and society
Chapter
Refer study guide
Events and Submissions/Topic
Module/Topic
Market value and comparable sales
Chapter
Refer study guide
Events and Submissions/Topic
Module/Topic
Instruction, inspection and risk
Chapter
Refer study guide
Events and Submissions/Topic
Module/Topic
Cost approach
Chapter
Refer study guide
Events and Submissions/Topic
Module/Topic
Income approach
Chapter
Refer study guide
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Valuation reports
Chapter
Refer study guide
Events and Submissions/Topic
Module/Topic
Property development
Chapter
Refer study guide
Events and Submissions/Topic
Module/Topic
Residual land value
Chapter
Refer study guide
Events and Submissions/Topic
Module/Topic
Property markets and location
Chapter
Refer study guide
Events and Submissions/Topic
Module/Topic
Chapter
Refer study guide
Events and Submissions/Topic
Module/Topic
Law of rent and professional ethics
Chapter
Refer study guide
Events and Submissions/Topic
Module/Topic
Property Valuation 2.0
Chapter
Refer study guide
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
1 Written Assessment
Execute a real property valuation of a free standing single dwelling (e.g. a house on a block of land) plus additional practical and theoretical elements pertinent to the valuation. In this assessment you will select a property that you have access to and value it using the methods learned in class to produce an industry standard professional valuation report. Complete details to be found on the Moodle site.
This assessment requires adherence to the guidelines on the use of artificial intelligence tools as specified in the Artificial Intelligence Assessment Scale (AIAS). Any misuse or lack of disclosure regarding the use of AI tools will be considered a breach of academic integrity. You may use AI for planning, idea development, and research. Your final submission should show how you have developed and refined ideas.
You may be eligible for a re-attempt. A re-attempt is where you are given a second opportunity to demonstrate your achievement of one or more of the unit’s learning outcomes before you can progress to new learning or participate in subsequent learning activities. You may be given the opportunity to re-attempt an assessment but will only achieve a mark no greater than the minimum for a pass standard for the assessment. You must:
- have shown a reasonable attempt to complete the initial assessment task
- be granted a re-attempt by your Unit Coordinator
- note that only one opportunity to do a re-attempt will be given, and
- make changes to the nominated assessment task which you have failed and resubmit the revised work for marking within seven (7) consecutive days, no assessment extensions will be approved.
Week 10 Friday (23 May 2025) 11:45 pm AEST
Week 12 Thursday (5 June 2025)
The assessment is aligned to:
- Describe and evaluate the theory and principles of property valuation and property market economics.
- Communicate and interact productively with various stakeholders in the property industry using various media channels.
- Apply and review ethical arguments and cultural implications related to property economics and valuation processes.
- Conduct a valuation of less complex property types by selecting and applying appropriate methods and preparing a professional property valuation report.
The grading tool specifically addresses the following areas and criteria:
| 1 | Presentation |
| 2 | Property description |
| 3 | Economic outlook and risks |
| 4 | Valuation approach |
| 5 | Calculations |
| 6 | Insightfulness |
The criteria are not equally weighted and further details of assessment criteria may be found on the Moodle site.
- Describe and evaluate the theory and principles of property valuation and property market economics.
- Communicate and interact productively with various stakeholders in the property industry using various media channels.
- Apply and review ethical arguments and cultural implications related to property economics and valuation processes.
- Conduct a valuation of less complex property types by selecting and applying appropriate methods and preparing a professional property valuation report.
2 Take Home Exam
The exam will be released approximately three hours before submission. It will include current case studies and may require the gathering property and market information. Parts of the exam may be answered through video and audio recordings.
Further details to be found on the Moodle site with an more explicit exam brief provided around week 10.
This assessment requires adherence to the guidelines on the use of artificial intelligence tools as specified in the Artificial Intelligence Assessment Scale (AIAS). Any misuse or lack of disclosure regarding the use of AI tools will be considered a breach of academic integrity. You may use AI to assist with specific tasks such as drafting text, refining and evaluating your work. You must critically evaluate and modify any AI-generated content you use.
The proposed date and timing align with the weekly class. That said, it is only finalised in week 10 as we review study plans and work around timing conflicts.
The final assessment task grade is released at the same time as term grades are finalised. However, you are welcome to speak with your unit coordinator at any stage regarding your progress.
This assessment is aligned with the learning outcomes:
- Describe and evaluate the theory and principles of property valuation and property market economics.
- Apply and review ethical arguments and cultural implications related to property economics and valuation processes.
- Conduct a valuation of less complex property types by selecting and applying appropriate methods and preparing a professional property valuation report.
- Describe and evaluate the theory and principles of property valuation and property market economics.
- Apply and review ethical arguments and cultural implications related to property economics and valuation processes.
- Conduct a valuation of less complex property types by selecting and applying appropriate methods and preparing a professional property valuation report.
As a CQUniversity student you are expected to act honestly in all aspects of your academic work.
Any assessable work undertaken or submitted for review or assessment must be your own work. Assessable work is any type of work you do to meet the assessment requirements in the unit, including draft work submitted for review and feedback and final work to be assessed.
When you use the ideas, words or data of others in your assessment, you must thoroughly and clearly acknowledge the source of this information by using the correct referencing style for your unit. Using others’ work without proper acknowledgement may be considered a form of intellectual dishonesty.
Participating honestly, respectfully, responsibly, and fairly in your university study ensures the CQUniversity qualification you earn will be valued as a true indication of your individual academic achievement and will continue to receive the respect and recognition it deserves.
As a student, you are responsible for reading and following CQUniversity’s policies, including the Student Academic Integrity Policy and Procedure. This policy sets out CQUniversity’s expectations of you to act with integrity, examples of academic integrity breaches to avoid, the processes used to address alleged breaches of academic integrity, and potential penalties.
What is a breach of academic integrity?
A breach of academic integrity includes but is not limited to plagiarism, self-plagiarism, collusion, cheating, contract cheating, and academic misconduct. The Student Academic Integrity Policy and Procedure defines what these terms mean and gives examples.
Why is academic integrity important?
A breach of academic integrity may result in one or more penalties, including suspension or even expulsion from the University. It can also have negative implications for student visas and future enrolment at CQUniversity or elsewhere. Students who engage in contract cheating also risk being blackmailed by contract cheating services.
Where can I get assistance?
For academic advice and guidance, the Academic Learning Centre (ALC) can support you in becoming confident in completing assessments with integrity and of high standard.
What can you do to act with integrity?
